Colosseum a.s. (Colosseum a.s.)
Commodities  |  August 01, 2012 08:35:33

Beef lower due to rising inventories

ColosseumPrice of futures contracts for beef (live cattle) yesterday saw the largest fall in the last 7 weeks. The reason is the increasing supply of meat in stores in the U.S.. The current problematic harvest grain, used in compound feeds for cattle, forcing many farmers prefer to send most of the herd to the slaughterhouse. Similarly, but at the same time as the market develops halves with pork (lean hogs). Heat and drought, which is worth a record rise in the price of grain, it seems so far will continue for some time. October live cattle on Monday at the CME closed weakening by 1.1% to 124.40 cents per pound of weight. Lean hogs with the same delivery month then even fell by 2% and closed at 80.3 cents per pound of weight.

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